Oracle has cancelled a $7 billion AI chip leasing contract with Tencent under pressure from the Trump administration, according to the Financial Times. Citing sources with knowledge of the deal, the FT reported that the deal would have seen Oracle lease up to 100,000 AI chips to Tencent over a five-year period, with the chips based in data centres throughout south-east Asia. Two people familiar with the matter told the FT that officials from the Trump administration had directly approached Oracle with concerns over the deal, while one source said Chinese officials had separately urged Tencent to support domestic chipmakers rather than Western competitors. The FT said Tencent had agreed to pay around 30 per cent of the approximate $7 billion at which the deal was valued up front, and it is unclear whether any payment has been made towards the deal, which is now understood to have been cancelled altogether. Tencent is China's largest tech company and the world's largest video game company, with a revenue of 751.766 billion Chinese yuan ($109.4 billion) in 2025.